Collecting debts effectively
Debt collection can be problematic for some businesses to face. Recovering the money owed by your customers who pay late, or not all, is a challenge that requires a systematic approach.
Building and improving capacity
Don’t be afraid to expand your operations if there’s enough demand to justify it. You’ve heard the old saying – you must spend money to make money – and this is especially true when spending to improve your business capacity.
Protecting and valuing your intangible assets
Intangible assets often make up the ‘secret sauce’ of your business, such as the way you do business, your customer database, and your customers buying behaviors.
Six numbers to track growth
Every business has their own critical success factors to indicate how well they are doing. These success factors could be sales growth, number of new leads, among others.
Building an online distribution channel
A business ‘channel’ is you how you find customers or the way they buy, and online channels are continually changing (almost daily it seems) as new technologies and trends hit the market.
Developing a pricing strategy
The prices you charge for your products or services can have a dramatic effect on sales and profits. Your pricing strategy also determines how customers view and respond to your product or service.
An overview of SBA loans
Many small business owners will have looked into the Small Business Administration’s (SBA’s) loan program, specifically the most common one applied for – the 7(a) loan. You may not be aware of the other SBA loans available, so we’ll give you a quick overview here. Types of SBA loan programs The SBA
The value of competitor analysis
Competitors come in all shapes and sizes. The important thing is to identify the most potent threats and compare their strengths and weaknesses with your business.
Is your new good or service feasible?
You’re likely to be enthusiastic and confident about the prospects of successfully launching a new business. Before launching, you’ll need to test the feasibility of your new product or service.
Choosing a business model
Deciding on a business model is one of the most important decisions you’ll need to make as a small business owner.